Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-05-06

IrustS.
There Is at present, a surprising willing
ness manifested by apparent philanthropy
lists to assume the financial management
Of the surplus capital Of the people. An
unaccountable anxiety Tor the welfare OF
those stocking business marts with their
products IS being exhibited, and even
business firms who have heretofore pros
percd unaldcd, are confidently informed
that their affairs can be more safely and
advantageou5lv conducted for them. All
tins, for slight consideration that hardly
pays for the great responsibility UNDER
taken Yet tins ralernal solicitation, this
urgent concern tor the financial interests
OF other, is emphasized by the most allur
ing assurances OF untold benefits. One
would imagine that the millennium was at
hand by such exhibitions OF brothcrly love
and good viii.
"lru,ts' are peculiar institutions.
There is SO nething abDaJ them that has
fascinating effect on the public. The un-
restrained greed for gold little cost and at
short notice, responds to their appeals with
amazing celebrity. Speculation let loose
from ali reason and Judgment, daz-
zleS and yet no ds the eyes OF
the uuacquainted. But what are
these '-tru,,,?' What tncy are not Is
more easily told. Tncy are not incorpor
"A nj,
troll corporations and products. bat they
are not lcga ly controlled themselves.
They are aot limited by law IN the amount
and nature of the business transacted.
They are not prohibited from transactIng
several kinds at the same Tune. lhey are
not permanently located. they may not
allow an inspection of tneir books by
shareholders. lhey are not responsible
for money or products IN their hands.
They are not to be restrained by State
governments because there Is nothlng to
restrain. There are nothing but pools
operated by confidence mampulatlons.
How the pubic can put property into
the hands of such irresponsible concerns
is more surprising than the character OF
the companies. 1t seems that no sound
business man would dare risk the smallest
amount So far beyond the safeguards of the
law, For says a contemporary:
"rhere is nothing in the history of the
'bubble companies more absurd than the
present eagerness OF the puolic to put their
fl,..x
troll II again or learu anytnIug abont il more
than the trust" chooses to tell them. Most
of those VITO ,hrow their money into these
condolences will lose II They certainly
ought to. Tuey Will lose 1t not because the
managers are dishonest-so far rs We know
anything about them, they are not-out be-
cause they are striving after the unattaina-
BILE"
And yet in the Western States, trusts"
are multiplying and millions of dollars
are being handed over to them. Specula-
tons OF the rankest and most dangerous
kinds are being INDUCED in and enormous
pools formed on mere nothingness.
The latest is the Great Western Cattle
Trust. The plan of its formation is
described bv +. ii. MCCLELLAN of C!eve-
land. Ohio. as follows: Pool the entire
cattle interests of America. Let each
owner give mortgage on every animal
he owns for s. per head, payable in five
annual payments. with per cent. inter-
est such payments to be deducted from
his beet sales. Let this pool decide. when,
where, and how all beet sh ould be shipped
and sold. Let no cattle be sold at any
price or any terms except to this pool"
The capital stock of this trust is
placed at S25 900, 900 and it says to every
cattle producer. Raise your cattle and
place them in our hands and we will sell for
you so that you will make more money
thaa ever" If this great pool is formed
to beat the Chicago cattle trade
monopoly as is asserted. it ought to be
beaten itself, for it is more reckless mo-
nopoly aud douoly dangerous TO public
interests. How much benefit did con-
sumers receive from the Standard Oil
Trust? What effect had it upon the 9TH
er oil companies Every man knows that
the Standard Oil Company, by the aid of